₦airaland Forum

Nigeria is gone if NLC should abide with this motherfucker rulings

Impossible

Meanless

Nigeria is gradually sinking, how would I avoid this,Lord

The current minister of Petroleum Resources in nigeria is the our president,I wonder if buba is not aware of what is going within the ministry.This is a big shame that a country with enough natural resources especially Petroleum cannot account for what is going on within Petroleum ministry.

In a couple of years, they will stop sourcing for foreign from central bank,however I will advise that they should stop now as inflation in nigeria has double.Naira is seriously losing his relevant in the market.Things are extremely expensive now

Ask the sailors that travel frequently,they will tell u that they are real.

A32 has my vote

Passengers’ 2018

Jennifer Lawrence and Chris Pratt are passengers who wake up in the middle of a starship voyage in a romantic sci-fi thriller that begins promisingly but gets lost in space.

Nigeria government is a big scam,what exactly is the problem of nnpc refinery, why can't this useless government is lease out the refinery for foreign investors?



https://guardian.ng/news/nigerias-26-5-billion-maintenance-cost-enough-to-build-three-new-refineries/


Nigeria’s $26.5 billion maintenance cost enough to build three new refineries
By Kingsley Jeremiah, Abuja
21 March 2021 | 4:32 am

Port Harcourt refinery.

• Proposed Refinery In Katsina Costs $2b, TAM For Old Facility $1.5b
• $1.5b Fresh Approval Higher Than 10-year Capital Allocation To Health
• TAM Three Times Higher Than 10-year Education Budget

The whopping sum of $26.5b, which the Federal Government has so far spent on the maintenance of its loss-making 445, 000 barrels/day capacity refineries, is capable of building three new refineries of the same size going by the cost analysis of refinery projects across the world.

Besides, the latest approval granted by President Muhammadu Buhari, who is also the Minister of Petroleum Resources for the rehabilitation of the 210, 000 barrels per day Port Harcourt Refinery is higher than the total capital allocation to the health sector by successive governments from 2009 to 2018.

Costing close to the $2b proposed refinery expected to be built in Katsina, Nigeria’s spending on refinery maintenance is, in fact, three times higher than the entire budgetary allocation to education between 2009 and 2018.

The Federal Executive Council (FEC), presided over by Buhari, last week approved the sum of $1.5b (about N575b), for immediate commencement of rehabilitation works on the largest refining company in the country, the 32-year-old Port Harcourt Refinery.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, explained thereafter that contract for the rehabilitation was awarded to Italian firm, Tecnimont SPA, and would be executed in three phases. The first phase is expected to be completed within 28 months, Sylva said, adding that the second and third phases would be completed in 24 and 44 months respectively.

Nigeria has three refineries located in Kaduna, Port Harcourt and Warri. These assets’ installed capacity of 445, 000 bpd plummeted over the years until the facility got obsolete and currently processes zero crude, while recording massive losses.

The $1.5b approved last week for the TAM thus pushed the hitherto $25b for the same purpose to $26.5 billion. The previous figure was never refuted by the government.

Buried in corruption with series of probes at the National Assembly indicting public officials for misappropriating funds meant for TAM, documents on the financial details of previous maintenance exercises, especially since the military regime have been scanty.

A close look at some refinery projects across the world show that the country would have built about three efficient refineries if funds spent on TAM were used for the construction of new refineries, instead of continuously maintaining existing refineries, which were performing poorly despite several attempts to revive them.

The Pacifico Eloy Alfaro Refinery and Petrochemical Complex (Pacific Refinery) being constructed at El Aromo, Manta, in the province of Manabi, Ecuador is a 500, 000 barrels per day (bpd) facility, and was built for $12b. Dangote Refinery, a 650, 000 (bpd) integrated refinery and petrochemical facility is being constructed for about $15b. Kuwait is also building Al Zour Oil Refinery for $16b. The capacity of the refinery is 615,000 bpd.

With the nation’s three refineries having a combined capacity of 445, 000 bpd, the implication is that it would cost less than $8b to build a new 210, 000 bpd refinery in Port Harcourt (the same size with the existing one). It should also cost less than $8b to build a new refinery in Warri, where the existing one, which was built in 1987, has total capacity 125, 000 barrels per stream day.

The Kaduna Refinery has a nameplate refining capacity of 110, 000 barrels per day. If a similar facility were to be built in the area, it would cost less than $8b. The three refineries would therefore cost only about $24b.

Jaqenhghar:
Sharrap and go and triple your hustle my friend and stop insulting. Broke ass nigger.
Its broke asses that are quick to abuse people. Your mate is Obi Cubana. Do you see him on Niggerland complaining about fuel prices?

I wonder why someone like u were allowed to contribute to a very sensitive matter like this,bros ,u need to flog like a thief so that u can think like normal nigeria that is passing through the daily stress

Tarabye:
Sharrap, as everything hiked before did you stop eating or living. We'll survive no matter what they'll do

I think u are a big bastard

Pls fix the dollar exchange to 490, Pls

Can this unfortunately government pls do something regarding drastic falling of Nigeria currency to dollar, pls I beg this government to recall soludo or engage the professionals in economic sector to see how they can stabilise the naira against dollar as the negative impact has started making life harder to live[size=12pt][/size]

I remembered them when abiola babes vs Leventis united, the stadium is always full to capacity, yisa vs Andrew uwe, these are the guys that make our olden days glorious,blood pressures are alway high, my late dad will be jumping up and down especially if referee intentionly award opponents free kick on box 18, no var them

My worry is this, I hope software error during the taking off of the max plane has been fixed, these are some of the problems associated with the plane and also the autopilot dilemma during emergency mode situation

I need to re-watch this movie, sakobi(the snake girl), however it nowhere to be found

Capital no, we need someone that can condinate the defense

chipet67:
Please shut up!

Another dumb from shit hole country

Divide and leave

I hope the man will not declare state of emergency in some part of Southern Nigeria states,everybody here is aware that nigeria does not have president, i continue to imagine who gave order for the shooting of the peaceful protesters that lead to killing of some many of them

I am really devastated to see what has happened to my brothers, sisters, colleagues agitating for better nigeria at lekki tollgate, my hope for this country has gone as it is now writing on the wall that the nigeria can't never be good unless civil war break out.

I don't understand again, 43kwh,an 100% increment, this is not normal

A country without directions